Soros lost nearly $1B in post-election market rally: report

Soros lost nearly $1B in post-election market rally: report
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Billionaire Democratic donor George Soros lost about $1 billion in the market following President-elect Donald TrumpDonald John TrumpA better VA, with mental health services, is essential for America's veterans Pelosi, Nadler tangle on impeachment, contempt vote Trump arrives in Japan to kick off 4-day state visit MORE’s White House win, The Wall Street Journal reported Thursday.

Soros expected the market to drop sharply after Election Day, the report said.

The stock market instead rallied on expectations that Trump’s policies will boost both corporate earnings and the overall economy. The Dow Jones Industrial Average is up 9.3 percent since Trump’s victory.

Soros avoided further losses by adjusting his positions late in 2016, the report added.

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Soros, a big contributor to a super PAC supporting Democratic nominee Hillary ClintonHillary Diane Rodham ClintonHillary Clinton slams Trump for spreading 'sexist trash' about Pelosi Gillibrand seizes on abortion debate to jump-start campaign DNC boss says candidates to be involved in debate lottery MORE, has long supported liberal causes.

He called Trump’s incoming administration a threat to democracy in December.

“Democracy is now in crisis. Even the U.S., the world’s leading democracy, elected a con artist and would be dictator as its president,” he wrote in a Project Syndicate op-ed.

“Although Trump has toned down his rhetoric since he was elected, he has changed neither his behavior nor his advisers. His Cabinet comprises incompetent extremists and retired generals."